Natural Gas Services Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:01 pm EDT
Share
Natural Gas Services Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 25.7 million compared to USD 19.44 million a year ago. Revenue was USD 26.96 million compared to USD 19.93 million a year ago. Net income was USD 0.504 million compared to net loss of USD 0.07 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the six months, sales was USD 51.42 million compared to USD 39.46 million a year ago. Revenue was USD 53.58 million compared to USD 40.26 million a year ago. Net income was USD 0.874 million compared to USD 0.267 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.02 a year ago.
Natural Gas Services Group, Inc. is a provider of gas compression equipment, technology and services to the energy industry. The Company manufactures, fabricates, rents, sells and maintains natural gas compressors for oil and natural gas production and plant facilities. It manufactures a line of compressor frames, cylinders, and parts, known as its Cylinder-in-Plane (CiP) product line. It uses finished CiP component products in the fabrication of compressor units for sale or rental by the Company or sells the finished component products to other compressor fabricators. It holds a limited inventory of flare stacks and related ignition and control devices for onshore and offshore incineration of gas compounds such as hydrogen sulfide, carbon dioxide, natural gas and liquefied petroleum gases. To provide customer support for its compressor and flare sales businesses, the Company stocks varying levels of replacement parts at its Midland, Texas facility and at field service locations.
NATURAL GAS SERVICES GROUP, INC. 
